Alien Metals makes progress at Pinderi Hills, exploring opportunities for Hancock

The AIM-traded firm said that at Pinderi Hills, recent geophysical activities identified two weak and shallow electrical conductors over the Cadgerina Dyke, which could indicate disseminated sulphide mineralisation similar to the Canadian Thunder Bay Intrusive Complex.

Down hole electromagnetic surveys conducted on two historical diamond drill holes at the Elizabeth Hill silver project, along with the compilation of historical aeromagnetic data, would support the preparation of a future diamond drilling programme.

The company said it expected the Hancock West applications - E47/5157 and E47/5158 - to be granted following the completion of the Native Title referral period in April.

It said the tenements were believed to host similar geology to the existing mineral resources at Hancock, with an initial field reconnaissance mapping exercise set to begin as soon as practical.

Alien Metals said it was continuing to assess strategic merger and acquisition and funding options for the Hancock Project, and had appointed Perth-based Sternship Advisers to oversee the process.

Sternship, established in 2017 by the former UBS Perth advisory team, reportedly had extensive experience in M&A transactions across various commodities, including iron ore.

“Alien is continuing to push forward exploration programmes on all projects, while working with its advisers to assess corporate transactions, in relation to the Hancock Project, which will deliver the best outcome for shareholders over time,” said executive chairman Guy Robertson.

“Sternship has impressive credentials and a proven track record in engaging with interested parties.”

At 1128 GMT, shares in Alien Metals were up 2.67% at 0.08p.

Reporting by Josh White for Sharecast.com.